Page 4 Advertisements Column 2

Evening Post, Volume XXXII, Issue 24, 15 June 1886, Page 4

PROSPECTUS OF THE WELLINGTON BUILDING AND INVESTMENT COMPANY (Limited). To be Registered under "The Companies Act, 1882." Capital, £100,000 in 10,000 Shares of £10 each (of which it ia intended to make provision at present to call up £5), with power to increase. Payment for Shares by Instalments extending, if desired, through a number of years. Provisional Directory : J. R. Blair, Esq., J.P. (Lyon & Blair) (Chairman) James Barry, EBq. (Barry & M'Dowell) Wm. Dawson, Esq., J.P. (Wm. Dawson & Ce.) T. G. Macarthy, Esq., J.P. (Brewer) James M'Kerrow, Esq., J.P. (SurveyorGeneral) Joseph Nancarrow, Esq. (Inspector of Machinery) R. M. Simpson, Esq., J.P. (Manager N.Z. Insurance Co.) , Bankers : The Bank of New Zoaland. Solicitors : Messrs. Buckley, Stafford, & Barton. Interim Secretary: R. M. Simpson. The increasing importance of Wellington and the surrounding district is creating ample room for the establishment of another financial institution. • •It is therefore determined to float the above Company, with ths following objects in view : — 1 at. To assist persons desirous of aoquiring property. 2nd. To utilize savings to the best advantage, by enabling persons to contribute according to their means, and by proper investment to secure the highest available rate of interest. 3rd. To enable persons desirous of borrowing on soeurity of property, to do so at a fair rate of interest rftnd to provido an easy mode of liquidating the principal. 4th. By conditions of contributions for shares, and by various table, to provide means for accumulating funds to moet any special requirement, such as endowment for children or provision for old age. Tho Company will be essentially mutual in its operations, as its entire aim will bo to promote the best interests of borrowers and lenders by becoming tho medium of business botween them, and so secure a fair share of advantage to, eaoh . To the working man an opportunity will be given to invest savings in tho most advantageous manner possible. To the man of some small means there will be a safe mode of roalising the highest rate of interest for bis money without any care or anxiety on his part as to tho issue. To the capitalist there is an opening for him to utilise some portion of his wealth m a useful and profitable manner. Tho want of such a Company as proposed ia distinotlyfelt, even in these comparatively chill times. The scheme, therefore, is launched with tho greatost assurance of success, as it must bo admitted that the tendency will be for values to improve immodiately the eloudof depression has passod away from tho commercial world. An eonfidenoe return?, undertakings such as this will be carried forward on tho succeeding wave of prosperity. EXPENSES OV MANAGEMENT. Arrangements are boing mado to havo tho expenses of management on a most economical scale, as also the legal work. SHARES. Shares will bo of the no.nl ¦* value of £10 each, but it is not intended to make provision to call up at present more than £5 per share. This amount will be payable in oithor one of two ways as may bo seloctod :— Class I—ss1 — 5s on application, 5s on allotment, and monthly instalments *i 5s por share fer eighteen consecutive months after allotment, as shall be directed. The Board of Directors may permit any such shareholders to pay in advance of the stipulated time and secure a corresponding benefit, in dividend or interest, as may be arranged. Class 2— By monthly payments under special tablo, extending over periods of five, six, oight, or ten years, as shall be selected ; tho shares being aeemod to be duly paid up to £5 each when the whole of tho instalments aro paid as agreed upon, until which, period tho holders of such shares do not otherwise participate in the Company's profits. It will bo seen by the table below that a person taking these shares pays in less than tho nominal paid up value, and to this extent he participates in the profits made. In this class no fewer than ten or more than fifty shares will be allotted to any ono person. No more than one-fiftieth of tho whole number of shares of the Company can be held by one person, , [ EXAMPLE- ' * j Payments in Class 2, for evory 10 shares, i paid up to £5 per share — £50. ~ . -, Per Total | «riod. Month. Payments, s. d. £ • b. d. 5 years ... 14 9 ... 44 5 0 6 years ... 12 0 ... +3 4 0 8 years ... 8 0 ... 40 16 0 10 years ... 6 3 ... 37 10 0 Every application for shares must be accompanied by a deposit equal to one month's instalment on the number applied for. Application for shares, accompanied with deposits, will be received at any agency of the Bank, of New Zealand throughout the district, or by the Secretary, Mr. R. M. Simpson, New Zealand Insurance Buildings, corner of Groy-street and Lambton-quay, Wellington, by whom also every information respecting tho Company will be furnished. PB'OSPECTUS of THE PETONE AND HUTT BUILDING AND INVESTMENT COMPANY (Limited). Registered 12th Mat, 1886. (Limiting the liability of shareholders to the amount of their shares.) CAPITAL £50,000 In 5000 Shares op £10 Each Payable as follows : — 2s 6d per share on applioation, 2s Gd on allotment, and 2s 6d psr share thereafter, payable monthly, for 38 successive months (if required), and on the first Monday of overy month, until -€5 per sharo is paid ; tho balamoe (if required) as the Directors may appoint. No notico of instalments given to shareholders. Chairman : Thomas Mason, Esq., settler, Taita, Hutt Directors : Edward Barber, Esq., settler, Potone Charles F. Beatson, Esq., arohiteot (Civil Service), Hutt Georgn Carter, Esq., builder, Potone James Hector, Esq., M.D., C.M.G., Petono S. R. Johnson, Esq., timber merchant, Petone W. J. Kirk, Esq. (Civil Service), Chairman • Town Board, Petone Bankers : The Colonial Bank of New Zealand. , Solicitor : B, Clement Kirk, Esq. Seoeetart: ; , G. Bell Williamson, Esq. Auditors: Brokers : Messrs. Williamson & Co. This Company will combine the advantages derived from the experience of many other similar and successful institutions now working in tho colony. The general principle aimed at is— That the interests of all concerned shall be purely reciprocal ; the main features being — 1. To provide capital whereby residents and others will be enabled to acquire property, freehold or leasehold, in town or country, by means of easy periodioal repayments which leave a reasonablo margin of profit to the. Company, while being amply protectod in point of security. 2. To enable porsons possessed of land to erect buildings thereon, either by progresspayments or in a lump sum, repayable by instalments, or at the expiration of a fixed period of years. 3. To receive deposits, and to afford a safe and profitable investment both for capitalists and during accumulation of smaller savings by othojfs. 4. To grant loans to members on the value of thoir shares ; and, gonerally, to encourage in overy possible way— consistent with sound security— members in the direction of thrift and independence, by enabling them readily to acquire property, and particularly to obtain a comfortable freehold home without incurring the oxhorbitant charges whioh so frequently attend privato arrangements. 5. It must be obvious to overy resident, and to every obsorvor of the extraordinary progress of these localities, that this Company will provido for an absolute and urgent necessity whioh exists at the present time. 6. It is consequently bolieved that, the residents, , and the public generally, will warmly welcome and support the advent of Buch an institution, tho first in tho district. 7. Also, that they will appreciate the privilege of obtaining admission as shareholders to a financial undertaking of this description, at the commencement of its' operations, when no large sum representing paid-up shares, nor the usual heavy premium oa suoh are required, as, owing >to their success, is the case with most other financial Companies in the Colony now carrying on business. 8. The Directors will consider each application for shares on its merits, and will allot accordingly, bnt they reserve the rght t« refuse any allotment absolutely if- they shad think fit. In such cases the deposit will be returned in full. Applications for shares may be made 'to the Secretary at" Woliington a,nd Petone 1 , either directly, or through the Brokers of tho_ Company, or any Agents '. Every application must be accompanied by the required deposit, or by a receipt from any Branca of the Colonial Bank for tlie amount of such deposit. Application forms may be obtained from the Secretary and Brokers, their Agents, or at any Branch of the Colonial Bank 1 of New Zealand. WILLIAMSON & CO., , Star Chambers-, . - 41, Lambton-quay, Wellington. CA- SH ' B OO* T S H O I'P, MOXXSWOBTH-STRBET.' W. H, O O X E ' Will hold a ' CHBIAP CLEAEINa'SALE FOR'ONIJ .'. t .. { MONTH , w_j Of his' Colonial made . ; „ BOOTS' AND SHOES, A.t prices never beforo heard of in Wellington. Come and inspect the Stock, and Judge for »i • . yourselves. , i j i t MUST BE SOLD. No Bba6onabl-b / oWbb rWtjbsd. CENTRAL HOTEL. BEEF TEA and Toast daily, 10 to 12, «d. Luncheon daily, 12.30 to 2, Is. W. J. SCOTT, Proprietor.